Put on some bell bottoms, crank up a Bee Gees album and pop open a can of Billy Beer, because we’re back in 1978.

The White House will be spin the unemployment rate drop to 6.7 percent as great news, but a good deal of the drop is due to the fact that another 374,000 people dropped out of the labor force in December. The labor force participation rate is back to 1978 levels (graph via Zero Hedge):....

http://tinyurl.com/pxsl5lgPut on some bell bottoms, crank up a Bee Gees album and pop open a can of Billy Beer, because we’re back in 1978.The White House will be spin the unemployment rate drop to 6.7 percent as great news, but a good deal of the drop is due to the fact that another 374,000 people dropped out of the labor force in December. The labor force participation rate is back to 1978 levels (graph via Zero Hedge):....

http://tinyurl.com/pxsl5lgPut on some bell bottoms, crank up a Bee Gees album and pop open a can of Billy Beer, because we’re back in 1978.The White House will be spin the unemployment rate drop to 6.7 percent as great news, but a good deal of the drop is due to the fact that another 374,000 people dropped out of the labor force in December. The labor force participation rate is back to 1978 levels (graph via Zero Hedge):....

My spin on the unemployment rate would be that those same 374,000 people have been dropped off the rolls. Their benefits have run out, therefore the numbers don't reflect payments.

Unemployment rate - farce!Inflation rate doesn't include food or gasoline - farce!You can keep your policy if you like it -farce!Under my plan a family will save $2500 a year - farce!Pass this and unemployment won't go above 7%- farce!This act of violence was due to a video - farce!My plan will reduce the deficit by half - farce!Extending unemployment benefits creates jobs - farce!

Do you believe any info that comes from govt?Unemployment rate - farce!Inflation rate doesn't include food or gasoline - farce!You can keep your policy if you like it -farce!Under my plan a family will save $2500 a year - farce!Pass this and unemployment won't go above 7%- farce!This act of violence was due to a video - farce!My plan will reduce the deficit by half - farce!Extending unemployment benefits creates jobs - farce!Can we ever trust an elected official again?

Time after time...They're all the same...they just look different.When they're not in front of the camera, they're all buddies....it's a freak show. I don't see one person so far that I would vote for on both sides! Boy are we in trouble.

<quoted text>Time after time...They're all the same...they just look different.When they're not in front of the camera, they're all buddies....it's a freak show.I don't see one person so far that I would vote for on both sides!Boy are we in trouble.

There are two kinds of politicians... those who have been caught, and those who haven't.

http://tinyurl.com/pxsl5lgPut on some bell bottoms, crank up a Bee Gees album and pop open a can of Billy Beer, because we’re back in 1978.The White House will be spin the unemployment rate drop to 6.7 percent as great news, but a good deal of the drop is due to the fact that another 374,000 people dropped out of the labor force in December. The labor force participation rate is back to 1978 levels (graph via Zero Hedge):....

I'm not disagreeing with the premise that employment stinks, and the fact that fewer new jobs have been created with this last jobs report. BUT---and, this is me and my ever-questioning mind going here--

I do think there is another factor here. Spelled: B-A-B-Y B-O-O-M-E-R-S. They are retiring and are the biggest demographic group... those that want to work, just can't find the positions they want, so they're riding out their 401Ks and other investments right now.

How that plays out with the economy, I don't know. But....that would have to be a factor here. Not as many Gen-x or Gen-y to backfill and create the demand?

My hope is that folks who pay attention will realize by now that the only thing the government does is shit rainbow skittles. Anyone with half a brain knows the government scam numbers are a total sham. As far as baby boomers being the reason......the numbers don't begin to add up. A great increase in working aged adults over a 30 friggin year period overwhelm any dip in productive boomer adults throwing in the towel due to downsizing, firing, lay off and lack of work. This is just the NEW normal according to fudged numbers and Obama's transformative years. And where is the bjillion dollars we must be forced to spend on inferior health care going to be going. Think about it please. All those dollars will not end up at Wal Mart or General Motors to pump up the consumer economy. It will go into the black hole of government managed health care. Just another nail in the coffin. Eventually things will get so bad that we will attain O% unemployed. Yes, the 10 jobs that exist in America will be filled and the rest on disability and gubbamint handy. Transformation accomplished.

I understand what you are saying about baby boomers and that is a part of the explanation. But these are folks without jobs that have stopped looking.

Some are, some aren't.

The way the joblessness rate is computed is too simple to be able to determine in truth. It's simple arithmetic--take the number of those employed in the previous month and figure the difference with those employed in the current. Takes no other factors into consideration. Can be said a substantial number of those who have stopped looked are probably within the age bracket of 55-65. I'd love to see those numbers but I don't know where to find.

<quoted text>Some are, some aren't.The way the joblessness rate is computed is too simple to be able to determine in truth. It's simple arithmetic--take the number of those employed in the previous month and figure the difference with those employed in the current. Takes no other factors into consideration. Can be said a substantial number of those who have stopped looked are probably within the age bracket of 55-65. I'd love to see those numbers but I don't know where to find.

Good points, helpful! I was referring to the unemployment rate as it is discussed in the news/mass media. Very little detail is provided in that probably because no one wants to look at the ugly truth. And the point made that both sides do know the composite behind these numbers IMHO is quite true. I haven't seen a breakdown like WW provided yet. Insightful. Also not mentioned is the fact the government stops counting you once you no longer claim unemployment compensation--for any reason, including that you are no longer eligible but have no job.

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